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Insurance VS Cash Pay Private Practice Cons of insurance: 1. Below market rates 2. Hard to get off panels 3. Confidentiality 4. Delay in claims (accounts receivable) Pros of insurance: 1. Built-in clients 2. Payment is mostly guaranteed 3. Serve a broader population Cons of cash pay: 1. Have to overcome objection hurdles 2. Skews your practice toward serving only the privileged 3. Other therapists might judge you Pros of cash pay: 1. Clients can often get partially reimbursed 2. Full control of your fees = massive income potential 3. Ability to protect client information Which one is best for you? Depends on your goals, your vision, mission, and values, and who you want to serve. Regardless of what you choose, choose wisely and in a way that protects the interests of a long, profitable, sustaining practice. It's always easier to start cash pay and then add insurance later vs the other way around. Find out how well your business is doing by taking our Healthy Private Practice Assessment: https://2dtyclgi7f9.typeform.com/to/k... Steal our automated email funnel for FREE: http://www.privatepracticeworkshop.co... FREE online training on how to get clients consistently: https://www.privatepracticeworkshop.c... Learn more and apply to work with John: https://www.privatepracticeworkshop.com/ John’s all-time favorite business books: The Personal MBA https://amzn.to/2Lfbx07 Blue Ocean Strategy https://amzn.to/2Lbc6YN Building a Storybrand https://amzn.to/3nn1jYE Clockwork https://amzn.to/3nr2Nlf Profit First https://amzn.to/2JutWVV Entreleadership https://amzn.to/3q0w5rO The Big Leap https://amzn.to/2XkXWXr #insurance #businesstips #privatepractice